Sanction letter and repayment statements of all the running loans and cards

Property Documents

Copy of title documents, legal and technical documents

About Mumbai

Lying on the west coast of India, Mumbai is the capital city of Maharashtra. Previously known as Bombay, Mumbai is one of the most populous urban regions in the world and the second most populous metropolitan area in India. It is also known as the wealthiest city in India with the highest number of billionaires and millionaires among all cities in India, and has the highest GDP of any city in West, South or Central Asia.
Mumbai is the commercial, financial, and entertainment capital of India and also one of the world’s top ten centers of commerce in terms of global financial flow and capital transactions. Mumbai’s business opportunities, as well as its potential to offer the premium standard of living, attract migrants from all over India, making the city a melting pot of many cultures and communities. Therefore the population in Mumbai is continuously on rise and calls for real estate development at a rapid rate.

About Home Loan in Mumbai

Over the last few years, the graph of Mumbai’s real estate market took a steep increase, largely because of the planned approach taken towards development. Having a home has become a basic necessity and a dream of every resident in Mumbai. While property prices have increasingly become affordable in Mumbai, but the city still provides numerous options for residential housing within the budget of Rs. 30-50 lakh. It is quite difficult to come across an appropriate house in Mumbai which is according to your choice as well as suits your pocket. Since the population has always been increasing, the property prices are always higher as compared to other cities in India.
However, often the reality of the dream of buying a home overshadows the magic of the experience due to higher prices. Now with the different home loan schemes are available with various banks and financial institutions, you need not to get disheartened to make the dream of owning a house turn into reality. A good home loan scheme can really make the process of buying a home easy and smooth.
Why to pay the rent when you have all the accessibility to apply for the home loans in Mumbai? Availing home loan in Mumbai is very simple and easy process with basic down payment of 25 to 30% and for the tenure of 20 years to 30 years. The higher the down payment the faster will be the loan processing. You just have to pay a little more and get your own dream home with all tax exemptions. The amount of home loan in Mumbai is influenced by the rate of property, your income, and liabilities.

Home Loan Providers in Mumbai

Possessing a house in Mumbai is considered as a dream among the residents. The increased prices of houses make it difficult for the people to make their dream come true. Personal savings are not enough to pay down the payment for many home-buyers is also what delays home ownership.
With the intention to make Mumbai property affordable, many banks, financial institutions, and NBFCs are coming forward to provide home loans to every class of society. The loans are available at reduced interest rates by government-run lending agencies and designated public sector banks. The major players in the market are PNBHFL, SBI Bank, ICICI Bank, HDFC LTD., India Bulls, Sundaram Homes, Axis Banks, DBS, AU Housing , Aditya Birla, GRUH Finance Ltd., Reliance Homes, India Shelter, TATA Capital, Dena Bank, Axis Bank, Reliance Homes, Jammu and Kashmir Bank, Oriental Bank, DHFL, LIC HFL, Federal, Andhra Bank, Bank of Baroda, Bank of India, Canara, IDBI Bank, Central Bank, Kota Mahindra Bank, and Yes Bank. These banks offer easier and flexible financing options accompanies with the dedicated support to make the loan processing a smooth cake-walk.
The purchase of your home should not burn a hole in your wallet. There are many home loan agents who can guide you through the entire procedure of for a home loan in Mumbai. They have the comprehensive knowledge and expertise to assist you in procuring a housing loan. iServe Financial is directly associated with a number of banks which sanction home loan in Mumbai between 80 to even up to 90% of the value of the property. We are one of the best home loan providers in Mumbai, helping people of different walks of life to realize their dream of owning a house.
Nearly all the leading banks, financial institutions, and NBFCs in Mumbai provide home loans at viable interest rates and easy EMIs plan so that you can fulfill your dream of having your own home in this amazing city. The bank gives you the right to request for more loan amount at lower interest rate depending on your relationship with the bank, credit score, and repayment capacity.

Top Home Loan Providers in Mumbai

SBI Home Loans
State Bank of India (SBI) is a government owned banking and financial service organization. SBI caters to a large base of individual and corporate clients in various home loan
schemes tailored to the needs including SBI Max gain, SBI Realty, SBI Home plus & NRI Home Loans. There are many benefits of availing SBI housing loans which include
low-interest rates, low processing fees, no hidden cost & no administrative charges, plus zero prepayment penalties. As of January 1st, 2017,
the interest rate for SBI home loan stands between 8.60% to 8.70%.

SBI MaxGain is a home-saver home loan which allows the customers to deposit and withdraw amounts depending upon their cash availability. The interest rate is usually
the current SBI home loan rate plus 0.25% and floating 10.15%.

SBI Yuva Home Loan is aimed at the first-time home buyer falling between the age group between 21-45 years with minimum income of Rs.30,000 per month.
The customers can get a loan amount that is 20% over the amount they are eligible for and interest needs to be paid for the first 36 months with interest rate of
floating 10.15% while the full loan amount can be repayed after 36 months.

SBI NRI Home Loan is tailored for Non-Resident Indians (NRIs) and for People of Indian Origin (PIOs) whose minimum employment tenure is 2 years. The minimum loan
amount is 3 lacs with the interest rate of floating 10.15%.

SBI Realty is a home loan granted to customers who wants to purchase a land or plot for construction of house. The maximum loan amount offered is 15 crores with the
tenure up to 15 years. The interest rate stands to be floating 10.15%.

SBI PAL is a Pre-Approved Home Loan which allows customers complete freedom to avail the loan amount before purchasing the property. The minimum loan amount is
10L at an interest rate of floating 10.15%.

Her Ghar Home Loan is especially tailored for women who need to be the primary or sole applicant for this type of home loan. The loan is eligible if the property
is on the name of the woman applicant. The interest rate on this loan scheme is 9.85% with the tenure of 30 years.

SBI Flexipay is for Salaried / Self - Employed with regular income with the interest rate between 8.6% - 8.7%. They have to pay interest for up to 60 months,
after which EMI payment will begin.

ICICI Home Loans
ICICI bank is one of the India’s largest private sector banks with a wide loyal customer base from different backgrounds. They offer higher eligibility to avail the loans
with quick processing and lower EMIs. Known for its top-notch service, courteous staff, and brilliant home loan plans, ICICI bank offers home loans especially tailored
according to the varied requirements of customers. The benefits of availing
home loan from ICICI bank are attractive interest rates, no pre-closure fees, speedy
approval with minimum documentation by a trained professional who can answer all your queries/questions.
The interest rate is 8.70% to 8.85% for General Borrowers and 8.65% to 8.80% for Women Borrowers with the processing fees of 0.50% of the loan amount or Rs. 11500 whichever
is minimum. The loan tenure is from 3 years to 30 years.

Axis Bank Home Loans
Axis Bank offers its customers lucrative banking solutions of which home loans are amongst the most popular and attractive products. Keeping in mind the customer’s
requirements and budget limitations, Axis bank offers home loans at extremely affordable interest rates. These home loans are tailored based on the needs of customers from
different financial backgrounds while providing flexibility of tenure as well as quick and easy processing for both salaried and self-employed individuals alike.
The benefits of availing home loans from Axis bank are attractive interest rates, balance
transfer facility, nil payment charges and quick and transparent processing. The interest rate is 8.65% to 11.75% and the super saver scheme with 9.25%. The loan tenure is
from 1-30 years and super saving scheme comes with 1 – 20 years.

HDFC Home Loans
Housing Development Corporation Limited is India’s biggest private lender in home loan segment in India. HDFC Housing Loans are offered for the purchase of new homes, for
the purchase of resale homes, for constructing new home or purchase of property, and transfer of home loan from another lender onto HDFC.
The benefits of taking home loans from HDFC bank are competitive interest rates, easy
application, flexible tenure and expert customer support. Customers can choose from fixed rate or floating rate according to their needs and easy repayment options of up to
30 years.

Indiabulls Home Loan
Indiabulls Housing Finance Ltd. (IBHFL) is second largest housing finance company in India which offers home loans at competitive interest rates, especially loans of up
to Rs. 25 lakhs. Their home loans are especially designed to suit the varied needs of individual customers. The benefits of availing home loans from Indiabulls are instant
self-approval, document checklist service, quick processing and quick loan disbursal. The interest rate (floating) for General Borrowers - 8.70% to 10.05% and Women Borrowers
- 8.65% to 10%. The interest rate (fixed) is 9.95% to 10.40% with the tenure from 1 - 30 years.

LIC Home Loan
LIC Housing Finance Limited (LIC HFL) provides housing loans to builders, individuals, employers organizations, development authorities. Home loans in LIC even lend loans to
residents as well as non-residents to purchase, extension, construction, and even to repair your houses. The transparent cost structure, attractive interest rates, quick
approvals, minimal documentation and quick processing times are some of the main benefits of availing home loan from LIC Housing Finance Limited.

PNB Housing Finance
PNB Housing Finance Limited is promoted by Punjab National Bank (PNB) is dedicated to disbursing home loans to individuals and corporate with precise groundwork and solid
customer support. The various home loans offered by PNB Housing Finance Limited are dedicated to the purchase of property, the extension of the house, construction,
functional improvement of home, residential plot loan and Loan for NRIs.
The interest rates are:

Floating

8.50% - 8.70%

FIXED 3/5 years

8.80% - 8.99%

FIXED 10 years

9.10% -9.30%

Plot Purchase will be charged 1% higher rates

Standard Chartered Bank Home Loans
Standard Chartered PLC is a multinational banking and financial services company which helps you buy your dream home with easy financing solution featuring attractive
interest rates and unparalleled level of service. The perks of availing
home loans from Standard Chartered Bank are the transparent application
process, international standard of service, customer feasibility and a hassle free processing. The interest rate is from 9.35% to 9.45% with the tenure period from 5 – 25
years.

Kotak Mahindra Bank Home Loans
Kotak Mahindra Finance Limited offers home loans accompanies with amazing facilities and services for a smooth and pleasurable home-buying experience. The interest rate is
8.95% with the tenure period of 20 years. The benefits of availing home loan from
Kotak Mahindra Bank are low-interest rates, quick and hassle-free loan disbursement process, minimal and simple documentation, and longer tenure.